What's new in Microsoft Dynamics AX 2012 R3 cumulative update 9 for India(Country specific features)
Hello Guys,Last week Microsoft launched CU9 for Ax 2012 R3. lets have a look which are the new features are added for India country specific.
Under India Companies Act 2013, depreciation is required to calculate the useful life of an asset regardless of the method of depreciation already used. Updates are included in this release to address component accounting and shift depreciation calculation.
When you import services from overseas and the invoice is issued before payment, the payable service tax is expected to be converted using the GAAP rate on the payment date. For TDS, the TT rate is used instead of the GAAP rate.
Electronic reports are now compliant with the File validation utility (FVU) version 4.5 tool. In the Vendor and Customer forms, on the Tax details tab, if the PAN status is Not Available, Applied, or Not valid, the Reference number field is enabled so that you can enter the reference number needed by the FVU 4.5 tool.
The functionality that is included for the RG23D requirement regarding invoice references in sales invoices, covers end-to-end scenarios of the sale of goods. These scenarios include, for example, from importer to first stage dealer, first stage to second stage dealer, first stage to manufacturer, second stage to manufacture, second stage to end consumer, and second stage to dealer. This functionality also covers the import scenario where the Special additional duty of custom (SAD) may be passed on to the corresponding posting accounting.
You can now set a default assessable value on returned goods on the purchase return order line, and read the assessable value from the posted purchase order line against which a return order is created for returned goods. The assessable value for the quantity being returned through the return order is calculated and used as the default assessable value on the return order line. The quarterly return for the traders report displays outward transactions and the corresponding inward transactions.
The tax register balance dynamic view functionality is extended to show utilized and adjusted CENVAT credit (RG23 A/C) against service tax liability and other taxes. The view also shows utilized and adjusted service tax credit against excise liability and other taxes extended in the new Service tax register balance form.
You can now reverse deferred excise credit to a CENVAT credit account in the next period while tracking the original transaction. You can also avail 100 percent of the CENVAT credit if capital goods are removed in the year of purchase, if one of the following conditions are met:
- Capital goods are removed in good condition.
- Capital goods are removed as write-off.
- Capital goods are removed as waste/scrap.
- Claim CENVAT credit after posting the product receipt.
- Adjust excise duty tax adjustment at the product receipt stage.
- Update RG 23A Part II immediately after posting the product receipt.
- Block excise duty tax adjustment when invoicing CENVAT credit during the product receipt stage.
- Use the CENVAT credit during the sales tax payment process.
The following statutory excise registers and reports have been added:
- Purchase and Sales Register
- CENVAT credit utilization (debit) report
- Inter Unit transaction register inquiry
- Personal ledger account
- Sample register
- Daily stock account register
- RG23 A Part I
- RG23 C Part I
- RG23 A Part II
- RG23 C Part II
Apart from above country specific features some new functionality and reports are added also few functionality are modified for particular "Human resources,Retail,Transportation management and Warehouse management modules.
Developer feature:
Now you can configure MPOS to skip the Welcome screen, login directly to the POS screen, and begin ringing up sales immediately.
